RMO No. 92-98: Implements the policies, guidelines and Integrated Tax System (ITS) transition procedures for the implementation of Revenue Regulation No. 8-98

Key points

1. Where to file and pay. For a one-time sale of real property, BIR Form 1706 is filed and Capital Gains Tax is paid at the Authorized Agent Bank (AAB) or collection agent under the Revenue District Office where the property is located.
2. Registration of new one-time taxpayers. A one-time transaction taxpayer with no previously issued TIN registers under regular Registration System (REG) guidelines. The attachments Capture Form (Form 1925), marriage contract and birth certificate of dependents are not required, until TIN issuance with minimum requirements is in place.
3. Out-of-district returns. The concerned AABs accept out-of-district returns for this type of transaction only.

Who is affected

• Taxpayers with one-time sales of real property
• Authorized Agent Banks